Wilmington, March 30—Assets of the building and loan associations in this state increased between $10 and $11 million during 1924, according to a survey recently conducted by the North Carolina League of Building and Loan Associations.
Supplementing this fine record is the statement of Hon. Stacey Wade, insurance commissioner, who is ex-officio the supervising official of building and loan associations, that since his department has maintained supervision over this industry, not a single failure has been reported.
During 1924, assets of the various associations doing business in North Carolina increased from approximately $60 to more than $70 million. Although more than 90 per cent of the associations reported substantial increases, the vast amount of funds now invested is still insufficient to meet the demands of those who are dependent upon this means of owning their own homes.
The record of building and loan associations has not only proven that it has been a great factor in the construction of homes but has also proven to be a safe place to invest funds and has developed into a real savings institution. It further shows that there are over 80,000 stockholders in the state and nearly 1.5 million shares in force. This prosperity not only applies to North Carolina but it seems to be general throughout the United States. Not a state so far reported but what shows a splendid healthy increase over the year 1923.
From the front page the Concord Daily Tribune, March 30,1925
newspapers.digitalnc.org/lccn/sn92073201/1925-03-30/ed-1/seq-1/#words=March+30%2C+1925
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